Tomco Energy Share Discussion Threads

[vauch] 29/9/2021 15:24

Its most likely that the first month delay was annoying. and perhaps 6 weeks more may turn into 12.
But I have been in this from Netcentric so another year would not really matter to me at this point.

[goulding1215] 29/9/2021 15:20

Well, I am surprised that there are no more buys. Do people really think that a 6-week MAX IMUM delay is going to make that much difference? The company need to be more specific on the new deal, with much more comprehensive details, which most people rate as a positive move.

1. No loan for the lease.
2. Obviously no placing
3.Due Diligence proving the site suitable for a 5000 barrel day plant leading to 10,000 bopd plant.
4. Possibly additional revenue from the new Valkor deal
5.WTI $75 pbo
6. It isn’t necessarily a 6-week delay.

What’s not to like? Come on TOM fill us in with the details.
aimho

[rmart] 29/9/2021 15:19

well there is one thing, lots of weak holders have gone today. Sets up up nicely for the next leg up. Those who are longer term remain and will reap the rewards.

[wilson2] 29/9/2021 15:12

Impressive research ? , there's green blobs of paint!!

[ducky fuzz] 29/9/2021 15:07

Impressive research damac. Thanks. DF

[damac] 29/9/2021 15:03

I have reworked the SITLA Plat map to show the current Tar Sands leases on Asphalt ridge. ML 51689 (the locations in Red) is the TS2 lease being chased by Greenfield.

Rmart, feel free to add into the header somewhere if you want.

[ajj2003] 29/9/2021 14:31

Shows why Valkor / Tomco negotiated the 29% deal moving forward. A big win - win for both parties as Utah is a huge cake to slice up with many different layers ;)

[noramping] 29/9/2021 14:20

Then there was the RF tech, which worked in a test tube, but didn’t quite like being underground near water.

TOM specialises in failure, how much oil does it get out of the ground?
We have been led on for years whilst the board paid themselves.

[rmart] 29/9/2021 14:12

IMO only here is where we are going.

Valkor (or whoever it is, Valkor is my guess based on my findings on the lease next door) pay to Greenfield $1.5m to $2m for the rights to drill the 5 wells. This gives Greenfield the cash to complete the 10% on Tar Sands.

Tomco then retains its £1m in the bank in UK meaning no placing required.

Greenfield then sorts the finance for the plant build as they have the land rights secured.

Production up and running within 18 months means no placing but for maybe £500k working cap sometime around 12 months from now when the share price is well above a penny.

In the meantime we get the feed result, details on offtake agreements, sand sales price and details of possible extra income from the deeper oil sands that the funder wants their hands on.

All IMO.

[wilson2] 29/9/2021 14:12

It's cause he's sold out , flown away .

[wilson2] 29/9/2021 14:10

If only they had proceeded with turbo shale , remember that, it's where they dug a big hole filled it with stone ,heated the stone with gas heaters and magically there was hole full of oil, why didn't they carry that idea through, it was there best idea yet

[the diddymen] 29/9/2021 14:09

Looks like we are Reichsmart free on this thread if his posts can be believed.

[wilson2] 29/9/2021 14:04

I can see this been down 15-20% at close, possibly more.

[fenners66] 29/9/2021 13:57

Valkor of course is a privately owned company ... as far as I know , you cannot buy shares in them

[shaunx] 29/9/2021 13:56

2m took 20mins to process earlier via ii

[fenners66] 29/9/2021 13:56

"Transformational deal" this week.....

Maybe, just maybe , they get to sit back and watch someone else operate another 3rd party technology , where they take the risk that it will not pay for itself, and the land ....

when the 31st Dec 2022 comes around what happens ?

[fenners66] 29/9/2021 13:52

Just read back and found that TOM pulled an attempt at funding previously.

[fenners66] 29/9/2021 13:51

Seems to me Valkor has played a blinder.

They got paid $1.5m for some work on a Petroteq plant.
They provided "services" up to the value of $375k.
Wages they would arguably have been paying anyway.

They did not drill their other license.
But have been funded through Greenfield to buy it instead.
They want to walk away from Greenfield , they have other fish to fry clearly.
They should still be in a JV for .... ever? When will $110m be lent?
They should still in the JV surely be funding 50/50 the land ?
No detail in the previous RNS ( no surprise).
At least some shareholders now think its a good deal if they lend the money to Greenfield and meanwhile instal a rig for the alternative tech that they have not got around to using on the other land.
That $1.5m will come in handy then.

Like I asked , how did TOM get involved in the first place?
What chance is there of even the $15.25m or more like $16.25m being paid ?

[ducky fuzz] 29/9/2021 13:47

Yes can buy at 0.68p .. edit 0.675p

[talais] 29/9/2021 13:46

Has everyone try buying, ?? Is it possible

[ajj2003] 29/9/2021 13:44

2.30 RNS? May be another surprise in store but very happy the way this project is shaping up for Tomco ;)

[fenners66] 29/9/2021 13:41

Valkor want to drill the other land.
Valkor want , to back out of Greenfield.

However may I refer to the RNS

"Issue of the Acquisition Shares is subject to Greenfield receiving funds from, or drawing upon, a loan or credit facility in connection with the construction of an oil sands processing facility as specified in the FEED Study dated 21 July 2021 (as amended or superseded) ("Financial Close"). In the event that Financial Close is not achieved within 3 years of the Effective Date no consideration is payable by the Company to Valkor and the obligation to issue the Acquisition Shares will lapse."

Oil sands processing facility as outlined in the FEED study - which it is believed will cost $110m

So until that happens , and the RNS today did not even refer to it, (its now that far away ?) then Valkor is still 50/50 owner of Greenfield.

But we were told Greenfield was funded for the land deposit.



TomCo and Valkor shall each hold a 50% equity interest in the JV Company.
But
Under the terms of the JV Agreement, the Company will provide funding to Greenfield, subject to being satisfied as to the use of such funds, of up to US$1.5 million, ...
... Valkor will provide the engineering knowhow ... undertake the work detailed in the Work Order. Valkor will provide the services for the completion of the pre-FEED and the FEED up to a value of US$375,000, along with their management and operating experience and any other information and other valuable resources owned by and/or controlled by Valkor. In addition, Valkor has granted to Greenfield a licence to the Quadrise MSAR(R) technology,"

So who funds the land and the next steps?